Integrated Wealth Concepts LLC Purchases 39,477 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Integrated Wealth Concepts LLC significantly increased its stake in Warner Bros. Discovery by 70.7%, purchasing an additional 39,477 shares worth approximately $1,023,000.
• Director Anton J. Levy bought 75,000 shares of Warner Bros. Discovery at $11.00 per share, increasing his holdings to a total of 949,000 shares valued at over $10 million.
• Warner Bros. Discovery reported a net margin of 2.00% and earnings of $0.63 per share for the last quarter, significantly beating consensus estimates.

Integrated Wealth Concepts LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 70.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,315 shares of the company's stock after acquiring an additional 39,477 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Warner Bros. Discovery were worth $1,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Invenomic Capital Management LP bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth $34,917,000. EdgePoint Investment Group Inc. grew its stake in shares of Warner Bros. Discovery by 2.5% in the 1st quarter. EdgePoint Investment Group Inc. now owns 22,085,008 shares of the company's stock worth $236,972,000 after acquiring an additional 548,836 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth $6,605,000. AQR Capital Management LLC grew its stake in shares of Warner Bros. Discovery by 37.2% in the 1st quarter. AQR Capital Management LLC now owns 1,063,929 shares of the company's stock worth $11,028,000 after acquiring an additional 288,204 shares in the last quarter. Finally, Apollo Management Holdings L.P. purchased a new position in shares of Warner Bros. Discovery in the 1st quarter worth about $65,031,000. Institutional investors own 59.95% of the company's stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 75,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $11.00 per share, with a total value of $825,000.00. Following the completion of the acquisition, the director directly owned 949,000 shares in the company, valued at $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Argus raised shares of Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Citigroup cut their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Wells Fargo & Company boosted their price target on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Raymond James Financial cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of "Moderate Buy" and a consensus price target of $13.20.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $16.17 on Friday. The company has a market cap of $40.03 billion, a PE ratio of 53.90, a price-to-earnings-growth ratio of 1.67 and a beta of 1.59. Warner Bros. Discovery, Inc. has a 52 week low of $7.08 and a 52 week high of $17.24. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm's 50-day simple moving average is $12.24 and its two-hundred day simple moving average is $10.60.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.07) earnings per share. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.

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